HAMBURG, Germany—Tokia Rubber Industries Ltd. has completed its purchase of the Anvis Group GmbH. Purchase price was $179 million.
According to the companies, Tokai purchased the Anvis Group, headquartered in Steinau an der Strasse, Germany, from H.I.G. Europe, the European arm of global private-equity company H.I.G. Capital.
Anvis, founded in 2000, provides highly-engineered, anti-vibration products primarily used in the automobile industry to improve handling, comfort and safety of vehicles. It has a work force of 2,000 and operates 13 locations in nine countries.
Olaf Hahn will continue to serve as CEO of Anvis.
Tokai Rubber, based in Komaki City, Japan, manufactures and sells components for the automobile industry, including anti-vibration systems and plastic hoses. It services automobile manufacturers and suppliers, as well as companies from other industrial sectors. It employs nearly 14,000 worldwide.
"Tokai Rubber Industries is the optimum strategic partner, which will enable Anvis to achieve a new level of global reach sooner rather than later," said Wolfgang Biedermann, managing director of H.I.G. Europe. "The two companies are perfectly complementary as far as product know-how and geographical positioning."